India's Greenply, Cera jump after Axis starts with 'buy' on building products demand revival
Brokerage Axis Securities initiates coverage on Greenply Industries GRPL.NS and Cera Sanitaryware CERA.NS with "buy"
Axis sets PT for GRPL at 385 rupees and Street-high of 8,500 rupees for CERA, implying 26% and 31% upside from last close, respectively
Axis says the building products industry is on track for a strong recovery in demand from FY26
Adds, Greenply is well-positioned to capitalise on structural shifts, like premium products demand, and standard norms for the wood panel and interior solutions market; expects revenue CAGR of 12% from FY24-27
GRPL up 5.8% at 322.1 rupees, set for best day in two months; CERA rises 5.8% to 6,883.5 rupees after Axis' bullish commentary
Brokerage says Cera is leveraging growing demand for premium bathware; expects retail demand in the segment to recover by Q2FY26
GRPL up 4% YTD, CERA down 9%
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